3SOF

Risk management is one of the first things I learned before starting to trade.  Except for the beginning when I only had a little bit of money to invest, I was making risky daytrades to build capital.  I could have lost everything on those trades.  But now I have enough to apply the rules.  I never invest any more than 8% of my entire account on any one stock, no matter how bullish everything appears to be.  I also never use margin.  In fact, I always thought you couldn't even buy a stock on margin if it was under $5. 

I'm still holding this stock from $1.48 on the same day 3SOF bought it.  I'm long-term bullish on it, and I will ride it out.  Good luck!

Leaira

When the markets are down so much, it pulls down so many stocks with it, that people forget the value of them.  I think when the carnage is over and people realize how undervalued some stocks have become, they will rush to buy them and the prices will be back up rather quickly.  If you are still holding, it's probably not a good idea to sell here unless something has changed fundamentally with the stock.  All of the 3SOF stocks have not changed fundamentally, yet.   So they should all rebound (this is the hope!)

But this stock did change fundamentally last week, remember?  We reported record profit for the quarter.  Something is definitely wrong if after a company reports good earnings, guidance, growth, etc., we are able to buy shares at a better price than before such an announcement.  In my opinion, this stock is a screaming buy down at this level!  Not to mention that it's at support.  I will hold.

Leaira

Quote from: Leaira on May 17, 2006, 04:52:16 PM
Something is definitely wrong if after a company reports good earnings, guidance, growth, etc., we are able to buy shares at a better price than before such an announcement.

Yes... and that is why I did not hold.  I had sold out yesterday whatever remaining shares I had.  I think the real estate exposure of GV makes people nervous with the preceived cooling of housing from rising interest rates.

SOURCE: Form 4

ISSUER: GOLDFIELD CORP
SYMBOL: GV

FILER: MARINO AL M
TITLE: Director

DATE               TRANSACTION             SHARES       PRICE            VALUE
5/15/06-5/16/06    Sale                   220,000       $1.96         $432,168

OWNERSHIP: 280,000 (Direct)  440,000 (Indirect)

  The Form 4 is filed with the Securities and Exchange Commission by insiders
  to report transactions in their companies' shares.  Open market purchases
  and sales must be reported within two business days of the transaction.

Insider Data Source: The Washington Service
                     ([email protected] or 301-913-5100)


  (END) Dow Jones Newswires

  05-17-06 1640ET

16:40 051706

Another bad day for GV, though you have to figure it was due in part to the overall market, no question about that.  I cut my position in the AM as part of an overall slash and burn, but still holding the rest.

Fib retracement to 61.8% would be $1.75 (as measured from the short term run from the 1.16 base to the 2.7 apex), so that should serve as the next support, as to some weak extent it did today.  Next support after that is 1.64 .

Unfortunately,
I really think there is toooo much stupid money in this stock... i think there are a majority of holders that think GV is gold related.. I honestly don't blade the .. come on now goldfeild(GV)...  simply confused with gold feiilds(GFI)....

It was obvious... especially today when I had some free time at work, i monitored gold activity closly, in the morning... gold was showing + movemnet... GV held... then sometime in the evening... GV started tanking... so did BGO and GOLD and other gold stock...

despite this... I think GV has finally touched its support... it closed rigth at it's support today... tomorrow will be the day that will test its support.. only time can tell...

If it closes green tomorrow after a bounce from its support I will be back in....

Today, the qqqq closed slightly above or rigth at its support.... Tomorrow will be the day we find out if this is indeed the support or not..
Goodluck all...
B

Quote from: beroznikmal on May 17, 2006, 09:35:34 PM
Unfortunately, I really think there is toooo much stupid money in this stock... i think there are a majority of holders that think GV is gold related..

Well here's the thing.  If there really are these many people who think this is a gold stock, then probably without them the stock price would not have climbed as high as it did.  This works both ways I think.

True.. maybe not...
The heavy construction sector in placed #1 in all industries... that said, I dont think so...


cheers...
B

hi,
gv chart has broken down with lower tops lower bottoms. i could be wrong but i see more down side for this issue,
maxi

lower tops lower bottoms... i am interested to learn... could u pls explain...

thanks
B

I no longer think the price action here is due to people thinking this was a gold stock.  Doubtless there were some of those people, but the stock would not have risen so high so fast just on account of that.   Even the gold stocks I follow didnt really move as fast as GV did.  I feel guilty for bringing up this theory from the Yahoo MB, but I feel that Lucas Scott explained things more correctl in his post in this thread, the big drop that day was due to GV getting opened up too high for no reason, then dropping with the rest of the market. 

What is clear to me now is that almost all stocks that rose fast recently are getting clocked by this market.  And its just a matter of speed.  I think we would all panic less if the stock hit its 62.8 Fibonacci retracement after 3 weeks instead of one week (as per my post below, that is basically where we are).  Same thing to some extent with CHID, BTW, also close to a fib retracement level.

The fundamentals of these companies have not changed in the last week, but those wilth profits chose to take them, and likely we should have as well.  I did the intermediate step and trimmed positions to more manageable sizes.

I believe that if the market bounces tomorrow, this stock will bounce right with it.  To me, its more of a gamble on what the market will do. 

None of this is to say the stock wont go down more soon, the market is always right, and there may be too much technical damage done.  That part I will look forward to hearning about from EliteG soon 

                open                close

17-May-06 1.89  2.08 1.73  1.75    532,500  
16-May-06 1.95 2.05  1.74  1.83    813,200
15-May-06 2.38 2.38  1.86  1.92    1,184,600  
12-May-06 2.40 2.41  2.0 9  2.16   929,900  
11-May-06 2.62 2.62  2.31  2.38     1,105,700  
 
lower tops lower bottoms refers to the open and the closing price. since the 11th may we have seen the stock   open lower than the previous day and close lower than the previous day. in the chart above you can see it stepping down.
tomorrow will show if it can rally but as i said above it looks to be breaking down.
maxi

Quote from: gharknes on May 17, 2006, 08:41:14 AM
unfortunately with my stupidity and some bad luck and poor choices i have managed to loose 35k on this stock, last week i was up 38k when the stock was trading at 2.80, i was going to sell but decided not too, i went out to shop came back 10 mins later and it had dropped to the 2.20 area, in my wisdom i bought another 60,000 at 2.25, the money came from my broker allowing me (T3) 3 days to settle, the stock rebounded to the 2.50 area but i still didn't sell, another stupid move, then the market crashed when i was out shopping, I have now had to cover the borrowed money as the 3 days where up, my broker is being unforgiving and is forcing me to sell some 80,000 shares at to cover the 151k i owe them at an average price of 1.84, i shifted most of them yesterday as the stock moved down and down, I have another 40k to sell today................total loss approx 35k from being up 38k a week ago a swing of almost 90,000 dollars

Ghark - one thing that caught my attention is that you seem to do a lot of shopping. As for the $35k, seems like it should not be a big deal. That's a relative figure. On a percentage basis, you're down no more than 10%. You bought at $1.47 and added another position or two at $2.25, right? Which puts your average price somewhere between $1.85 and $2.00. A 10% loss isn't bad.

Quote from: Leaira on May 17, 2006, 04:52:16 PM
But this stock did change fundamentally last week, remember?  We reported record profit for the quarter.  Something is definitely wrong if after a company reports good earnings, guidance, growth, etc., we are able to buy shares at a better price than before such an announcement.  In my opinion, this stock is a screaming buy down at this level!  Not to mention that it's at support.  I will hold.

Leaira

It's not all that unusual for this to drop after a nice earnings report. We have to remember that GV has more than doubled in price and profit taking can and should be expected. When a stock rises fast before earnings then a lot of the value has already been "priced in" to the stock. Unless they posted totally blow out numbers in a surging market, the stock is not going to explode any more. I sold my entire position after earnings were released when GV started to go down after gapping up. I bought half back at 2.26, thinking it would turn. It didn't and i ended up selling again yesterday at 1.88 for a loss. I bought back at the close at 1.75, so selling ealry and buying back later cut some of my losses. GV has been gapping up every morning and fading out as the day goes on, so my plan is to sell for a small profit if that is the case today. Also keep in mind that the next dollar level, $3 in this case, is a natural psycological resistance point in the minds of many traders. Long term this stock looks great, but good traders should take profits when they are there and buy back when the opportunity presents itself.